Global Gastric Cancer Diagnostic Market Analysis and Forecast to 2028, Featuring Agilent Technologies, Qiagen, Roche, Illumina, Myriad Genetics, Vela Diagnostics &?Advacare Pharma

News provided by

Feb 06, 2024, 13:30 ET

DUBLIN, Feb. 6, 2024 /PRNewswire/ -- The "Global Gastric Cancer Diagnostic Market: Analysis by Product Type, Disease Type, End User, Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.

The global market for gastric cancer diagnostics witnessed a valuation of US$1.46 billion in 2022, with a projected growth to US$2.25 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 7.46% during the forecast period from 2023 to 2028.

Driving this expansion is the increasing incidence of gastric cancer worldwide, coupled with a heightened awareness among individuals about preventive measures. The emphasis on preventive healthcare, routine screenings, and the focus on high-risk populations contribute significantly to market growth.

Supportive government initiatives, healthcare infrastructure development, increased research and development activities, and technological advancements further streamline diagnostic procedures, enhancing overall efficiency. The market is anticipated to thrive as the elderly population increases, and innovations such as liquid biopsies, advanced imaging techniques, molecular diagnostics, and AI integration gain popularity.

Market Segmentation Analysis

By Product Type: The global gastric cancer diagnostic market is categorized into Reagents & Consumables and Instruments. The Reagents & Consumables segment dominated the market in 2022, driven by the routine demand for consumables in various diagnostic techniques. The Instruments segment is the fastest-growing, propelled by global healthcare infrastructure development and increased accessibility to advanced medical equipment.

By Disease Type: Gastric cancer diagnostics are segmented into Adenocarcinoma, Gastric Lymphoma, and Others. Adenocarcinoma, the most prevalent stomach cancer type, holds the majority share and is poised for rapid growth. Future trends may involve the integration of liquid biopsy and personalized medicine approaches.

By End User: End users encompass hospitals, oncology specialty clinics, diagnostic labs, cancer research institutes, and others. Hospitals secured the majority share in 2022, offering comprehensive services from initial screenings to advanced diagnostics and treatment. Diagnostic Labs are expected to witness the fastest CAGR due to increased demand for laboratory-based services and advancements in molecular and genetic testing.

By Region: North America led the market in 2022, driven by a high prevalence of gastric cancer, an aging population, government investments, and increased awareness. The Asia Pacific market is expected to experience the fastest growth, fueled by a rising patient population, increased healthcare spending, and collaborations between APAC countries and international pharmaceutical companies.

Global Gastric Cancer Diagnostic Market Dynamics

Growth Drivers: The rising geriatric population, increasing disposable income, growing healthcare expenditure, and awareness about early detection contribute to market growth. Other drivers include the rising prevalence of gastric cancer and a focus on preventive healthcare.

Challenges: High diagnostic costs present challenges, particularly in regions with limited healthcare budgets. Additionally, a shortage of medical laboratory professionals poses a challenge to the market.

Trends: The incorporation of Artificial Intelligence (AI) and machine learning in gastric cancer diagnostics is a rising trend, enhancing precision and efficiency. Other trends include liquid biopsies and technological advancements.

Key Topics Covered

Executive Summary
Introduction
Global Market Analysis
Regional Market Analysis
Impact of COVID-19
Market Dynamics
Competitive Landscape
Company Profiles

Companies Profiled

Agilent Technologies
Abbott Laboratories
Qiagen
Bio-Rad Laboratories
Roche Holdings
BIOMERIEUX
Illumina, Inc.
Myriad Genetics, Inc.
MIRXES
Vela Diagnostics
Advacare Pharma

For more information about this report visit https://www.researchandmarkets.com/r/ry4dwk

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets